We Had a Nice Rally!
DOW +90.40—-NASDAQ +57.53—-SP500 +18.65—-NYSE +63.47
Portfolio Leaders: AMZN, T, ISRG
Portfolio Laggards: BGS, BPT, RTN
We had a nice rally day today. I mean, it was much higher into the triple digits, and at the final closing bell the DOW finished at 90.40 points. Tech stocks and the NASDAQ pretty much led the way.
So, trade talks and threats coming from the Trump Administration will continue, as Trump thinks that the global economy is not interconnected.
Case in point, Trump was criticizing Harley Davidson for planning to have motorcycles manufacturing overseas (possibly in Europe) to avoid trade tariffs and having to transfer those costs to its customers.
The more I think about it, this trade tariff thing (started by Trump himself) is like shooting ourselves in the foot. It’s simply going to transfer the costs to the consumer, and prices will surely go up. I don’t see any other way around this as a consumer myself.
I’m no economist, but I would rationalize that somehow American businesses and American consumers will get screwed.
Anyway, trade tariff threats are a reality right now and they WILL affect business on both a global scale and a domestic one. It’s hard to believe this is coming from a president how touts himself to be a savvy businessman. I guess he’s gone bankrupt 3-4 times in his lifetime, and someone like Warren Buffett (one of the richest billionaires in the world) has never gone bankrupt. The records and history only show the proof.
Lots of talk about healthcare and Amazon lately, as Jeff Bezos plans to join with JP Morgan CEO Jamie Dimon and Warren Buffett to come up with a healthcare system that will rival the current ones on the market today. The stock was rallying today on these rumors and also because all retailers and other online stores have to deal with Amazon, the ultimate rival.
AT&T announced that they are offering fiber optic internet connections in some parts of the country now. This would rival Google Fiber’s attempts to circumvent broadband by offering a fiber optic option that would be 100 times faster than the average broadband connection.
I for one would like to sign up with Google Fiber, as the super fast connection would benefit my online trading at home.
Intuitive Surgical (ISRG)
The only other news I’ve seen about Intuitive Surgical is that Bernstein announced a target price of $560 for ISRG. That’s pretty bold, but the stock, for the most part, has been doing quite well and is Bullish.
Stocks to Track for Tomorrow
Shake Shack (SHAK), Tesla (TSLA), World Wrestling Entertainment (WWE), BJ’s Restaurants (BJRI)
More Investing Thoughts
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Wednesday, October 31, 2018: Halloween Edition – Bears Were Spooked!
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